Abstract: The U.S. grain marketing system has undergone many structural changes in the 1980s. In no part of the system has structural change been more far-reaching and extensive than in farmer-owned cooperatives. The purpose of this paper is to analyze changes in grain marketing and induced structural adjustments in grain marketing cooperatives at the local, regional, and interregional levels. The impact of these structural changes on the competitive posture of cooperatives in the grain marketing system is also discussed along with structural adjustments anticipated in the 1990s.